Central Banking

CLS data on FX transactions

The CLS (Continuous Linked Settlement) Group on Monday released new data showing that during October 2005, a daily average of 215,016 foreign exchange transactions was completed using their global settlement system. The number of banks, brokers, funds and corporates using the CLS bank services reached 664, according to the group.

CLS was founded in 1997 to create the first global settlement system, eliminating settlement risk in the foreign exchange market. The CLS service, launched in Septemb